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Gold Fields Limited (GFI)

NYSE - NYSE Delayed Price. Currency in USD
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12.29-0.20 (-1.60%)
At close: 4:00PM EDT

12.45 +0.16 (1.30%)
Before hours: 8:40AM EDT

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  • t
    terracin
    Maybe it's this.....
    Make sure you read the last sentence...

    Gold Fields reviewing approvals given at Australian sites after Rio Tinto cave blast - Reuters
    Sunday, 13 September 2020
    JOHANNESBURG, Sept 11 (Reuters) - Miner Gold Fields said on Friday it was reviewing the approvals given to each of its Australian sites after Rio Tinto destroyed historically significant Aboriginal rockshelters which led to the resignation of its chief executive.

    Rio Tinto said earlier on Friday chief executive Jean-Sébastien Jacques and two other executives would step down following an outcry over its decision in May to detonate part of an ancient gorge that showed 46,000 years of human habitation.

    Gold Fields, which has operations in Australia including its Granny Smith and Gruyere mines, said it was already acting in response to the situation its rival had found itself in.

    “As a result of the Rio incident, two months ago we initiated a review of previous legal approvals that each Australian site had received from the regulator,” Gold Fields spokesman Sven Lunsche said in response to questions from Reuters on its approach to the heritage issue.

    The company said it was determining which approvals would require further engagement with Indigenous stakeholders if they were to mine or explore in the areas.

    “We have also undertaken a review of the gaps identified in Gold Fields’ heritage management processes as part of a critical control audit in late 2019, with a particular focus on relationships with Aboriginal stakeholders,” Lunsche said.

    Johannesburg-listed Gold Fields said it was closely following a review of relevant state and national legislation initiated by the Australian government.

    “In our other countries of operation we don’t mine in areas that are culturally sensitive,” said Lunsche.

    The gold miner also operates in South Africa, West Africa, Chile and Peru.

    Local rival AngloGold Ashanti, which has two operations in Australia, declined to comment.

    The blasts drew international condemnation and damaged Rio Tinto’s reputation for its dealings with indigenous groups in its worldwide operations.

    The backlash has also resonated across boardrooms, with billions of dollars poured into companies based on environmental, social and governance (ESG) factors giving ethically-minded investors greater influence in how companies handle corporate crises. (Reporting by Tanisha Heiberg; editing by Philippa Fletcher)
  • Z
    Z
    The good news is I bought awhile back between $8 and $9 and added at $13.20.
    The bad news is I didn't buy very much.... :(
  • M
    Mark
    Why the big jump today? News leak maybe??
  • s
    shenjee
    Here we go again. Since there's no good news on FOMC yesterday. Gold stock will drop again. It's the big guys trying to manipulate the price. Weak hands will sell. And then we will have the big rise where no one can catch up without a small loss. GFI do that much more dramatically. At this premarket of today, EGO actually rose to 11.5. Must be a small guy who actually see the big picture of the gold trending higher. Chinese dollar is stronger, American dollar will eventually depreciate 30%. What more need to be said.
  • T
    Tiffany
    They had some interesting insights about GFI on http://tradenow.xyz. Definitely made me think twice about the company.
  • V
    Valerio
    Any idea on this stock? Why down so much recently?
  • P
    Peter
    Low debt vs cash flow, with HUGE resource make GFI undervalued, strong corporate governance make GFI a safe bet in the space...
  • Y
    Yahoo Finance Insights
    Gold Fields reached a 52 Week high at 14.55
  • U
    Uyesugi
    New trader watchlist was published by these guys and it featured GFI. http://webstock.today
  • T
    The Legend of Harry Weiner
    Guess I should have added more. Oh well, took my cost out now time to let it ride for the next year or so while the Fed turns the Dollar into New Year's Eve confetti. $Btg $Silj
  • M
    Mark
    Bought another 600 here. Hopefully a good decision.
  • K
    Kenneth
    This time the only way for gold is up, even though it may not be in a straight line. Patience is golden.
  • M
    Michael
    Interesting reaction to report we have seen from the pre-release on the 5th. Quick thoughts:

    - Gold is more expensive to extract in SA because the mine is deeper
    - GFI has reduced net debt by about a third, with most of reduction in the first quarter
    - to further explain, interest costs should be lower going forward which in turn creates more profit (like as seen in Q2)
    - not mentioned was the request to release shares for new capital. With interest rates so low, does it make sense to use equity for cash?
    - big picture result looking forward is better selling price created margin to reduce debt, but the equity sell offsets the progress
    - Guessing the search for new CEO will eventually pick someone from a region outside of SA

    -Mike
  • D
    Dorian
    Gold is getting a lot of attention from its new record high. GFI was highlighted in the Zacks analyst 's blog, suggesting a strong growth potential. Likewise, a lot of momentum has created by this company to create business opportunities. http://psce.pw/GoldandCryptoCurrencySaveHavenPotential
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  • D
    David
    I bought on the 19th August 2020 at $12.11, with the great results today (20th) was expecting more of a pop (it's up, but not much) and more volume. #StupidShares
  • s
    shenjee
    this board is not like it used to be.... in the old days it was so active and then yahoo purposely changed its format, and now it seems no one cares... I still care and I think this time around Gold will prevail...
  • P
    Peter
    Going to $20 on the next run...
  • w
    will william
    This board is real quiet lately, the price of gold is over 2000 an ounce, earnings just 2 days away. I expect to see outstanding earnings announcement. It cost about 1000 to pull a ounce of gold out of the earth. With gold sitting at 2000 and moving higher the profitability is great!!! Look for GFI to to be sitting at 14- 15 by Thursday , Friday we could see 16-17 a share. Good luck to all!!!!!
  • K
    Kenneth
    The worst performing gold stock. Others holding relatively better. I will get out as soon as I get the chance.
  • g
    genehunter
    $DRD.JO conversation
    Check DRD's debt to equity ratio, if you compare it to $GFI, we should expect some move here before the end of the month.